Ford's long-anticipated sale of Land Rover and Jaguar is now in its final phase. Ford has officially decided to acquire India's leading automotive company, Tata Motors, with an expected signing of the agreement on March 5 or 6 in the United States. Land Rover and Jaguar, both iconic British luxury car brands, have been under Ford's ownership for years. The decision comes as Ford aims to streamline its operations and focus more on the North American market.
According to recent reports, the deal is valued at over $2 billion, and the final terms were agreed upon after negotiations between Tata and the union last Friday. Ford also plans to continue supplying engines to both Land Rover and Jaguar, with a potential supply period lasting up to 10 years. This arrangement ensures a smooth transition and maintains key manufacturing partnerships.
Tata Motors is India’s largest commercial vehicle manufacturer and ranks second in passenger vehicle sales. It has traditionally focused on producing affordable cars. Meanwhile, Ford has struggled in recent years, posting a loss of $2 billion in the last year alone, and suffering a record $12.6 billion loss in 2006. This acquisition marks a strategic shift for Ford as it looks to divest non-core assets and refocus its global strategy.
Currently, Land Rover and Jaguar are expanding into the Chinese market. However, it remains unclear whether this sale will impact their operations in China. As the deal moves forward, the future of these iconic brands under new ownership is being closely watched by industry analysts and consumers alike.
**Extended Reading:**
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